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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market’s daily review

19:07 05/12/2006

After some strengthening the American currency again was under pressure against the basic currencies.

The dollar exchange rate decreased after an issue of weak data on retail sales of the USA in April, having weakened hopes for the rate increase.

Growth of rates of precious metals and oil prices also influence negatively on a dollar exchange rate.

 

Besides initial jobless claims for a week by May, 6th fell 1000. It was less than predicted decrease of 6000.

As the US Department of Labor informed jobless claims in the USA for a week by May, 6th made 324000.

Indicators for the last week have been revised upwardly from 322000 to 325000.

It is a maximum level since the middle of October.

Four-week average grew up to 317250. It is the maximal growth since the middle of December.

 

According to Department of Commerce retail sales in the USA were up 0.5 % in April against growth of 0.6 % in March.

The indicator was below a predicted level and it was below the previous value.

Economists expected growth of 0.7 %.

 

Retail Sales Excluding Autos in the USA for April increased 0.7 % against expected growth of 0.9 %.

The previous value of the given index has been revised from +0.4 % to +0.5 %.

 

The gain of GDP of Eurozone in the first quarter was accelerated, and it increases probability of ECB interest rate rise.

So, preliminary value of gross domestic product index in the Eurozone in the first quarter of 2006 made +0.6 % for a quarter against the previous value of +0.3 %.

In annual calculation the indicator made +2.0 % whereas in the fourth quarter annual growth of gross domestic product made 1.7 %

GDP gain in the first quarter of 2006 was maximal since second quarter of 2004.

 

Gross domestic product in Germany in the first quarter was up 0.4 % concerning the fourth quarter 2005.

Economic growth excluding seasonal fluctuations increased 2.9 % y/y from 1.1 % in the fourth quarter.

Economists forecast growth of 0.5 % for a quarter and of 1.5 % for a year.

 

Preliminary value of GDP index in Italy for the first quarter 2006 made +0.6 % for a quarter, +1.5 % for a year at the forecast of +0.5 % for a quarter.

The previous value made 0.0 % for a quarter, +0.5 % for a year.

 

The index of industrial production in Italy for March made -0.1 % for a month, +4.2 % for a year.

Growth of the given parameter of 0.4 % for a month was predicted.

The previous value made +0.8 % for a month, +3.3 % y/y.

 

The British currency surged after data showed that the sector of a manufacturing industry of Great Britain started to restore, having increased chances of Bank of England rate rise this year.

The index of industrial production in Great Britain for March made +0.7 % for a month, +0.3 % for a year against the previous value -0.3 % m/m, and -1.5 % y/y.

 

The index of industrial output in a manufacturing industry in Great Britain for March made +0.7 % for a month, +1.1 % for a year.

The previous value made -0.2 % for a month, -1.4 % for year.

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